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Wednesday, October 26, 2016

Genel Energy Remains Indecisive

Genel Energy Shares (LSE:GENL) are currently indecisive. The
market has been in a kind of consolidation since August, following the bearish
run that was witnessed in July 2016.

Price currently hovers between the upper and lower
Trendlines. Though price has gapped downwards recently, but the gap would soon
be filled. The extant gap has pushed the RSI period 14 into the oversold
territory, and as a result, price would bounce back into the Trendlines, after which
price would go into another equilibrium zone.

For Genel Energy to stop being indecisive and begin a strong
trend, price would need to stay above the upper Trendline or below the lower
Trendline. In order to achieve this, price would need to go above the resistance
line at 120.00 or go below the support line at 70.00, to prove that the market
is in a trending mode.